We're half way there! Dan DeFrancesco, NYC. But I'm sad that we may soon be living in a world in which kids won't have chocolate milk in school.
We've got news on another Wall Street titan bringing employees back to work, the battle for talented portfolio managers between top hedge funds and how you can dress up as your favorite HBO series this summer in Italy.
What do you do?
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1. Keep an eye on the job listings.
What about the Twitter news?
No, I am not referring to the company's new CEO, Linda Yaccarino, a long-time advertising executive.
I'm interested in X's acquisition of Laskie, a company that specializes in matching tech talent to potential employers. Musk's strategy of creating a US Super App is evident in this move.
If you aren't familiar with the phrase, a super-app is a collection of services — from ride sharing and social media to banking and investing — all in one app. Super apps are extremely popular in Asia but haven't taken off in the US.
Musk is trying to change this, and he's using Twitter as his starting point. Experts, however, aren't convinced. Multiple forces are working against a super-app in the US. This is especially true if it's run by someone like Musk.
This brings us to Laskie. The deal seemed a little odd at first. My mind immediately goes to the wallets of users when I think about super apps. Musk seems to think the same. Twitter has applied for the licenses that will allow it to accept payments.
A recruitment tool may be a more effective way to reach a customer. The first is that the entry barrier is much lower. It's much easier to create a profile on an online job board than it is to open another bank/investment account. It's a hard lesson that many fintechs learned the hard-way.
Many states have passed laws requiring job posts to disclose salaries. Operating a job market can provide valuable information on what users might earn.
This could provide information about where they live, what benefits they get, and how their career has evolved. All that information builds a profile that is easier to monetize. After all, that's the goal.
It's not that simple. Experts have warned that super apps in the US will face an uphill struggle. (Read more about that here.
Click here to learn more about the first Twitter acquisition under Elon Musk.
Here's why experts aren't convinced by Elon Musk's plan to transform Twitter into a super-app.
In other news:
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2. BlackRock is back in the office. The asset manager has told its employees that they are expected to be in the office four days per week. Larry Fink, and his team, had the decency not to implement this rule until September, unlike JPMorgan. The Hamptons house still exists, guys! Please read the following memo.
How top hedge fund attracts star portfolio managers. John Pierson runs a recruitment firm that specializes in PMs. He explains everything you ever wanted to about how funds recruit and retain new talent. Check out the details on what they are looking for and how they pay.
4. The trend of stashing money under your mattress has returned. Gen Z is all about "cash-stuffing" – putting money into envelopes for specific expenses. Wait until they learn about rolling quarters. Learn how Gen Z budgets using the old-school method.
5. AI is a great alternative to M&A banks. A Japanese 32-year old founder is on the path to becoming a billionaire, thanks to a matching service powered by AI he developed for small businesses seeking buyers. Here's how it works.
6. Wells Fargo has agreed to pay… again. Reuters reports that the bank will pay $1 billion in settlement of a lawsuit alleging that it defrauded investors by overstating its ability to recover after scandals which have rocked the institution over the years. Here's more information on the settlement.
7. Hamptons is the latest victim in the real estate crash. Summer rentals have fallen in eastern Long Island beach towns as the supply has outweighed demand. You can now get a summer rental for just$100,000. This is a great deal!
8. Budget-friendly suburban living. Are you priced out of New York City, Boston or Washington DC. (Aren't all of us?) Here are some affordable suburbs within spitting distance of the major cities. Take a look.
9. For only $2,248 a night you can experience your "White Lotus" moment. You can take a look inside the Sicilian Hotel where the HBO second season was filmed. I heard that a blind woman makes the cheese in a basement.
10. Martha Stewart explains how to be young. Stewart, at 81 years old, is the oldest Sports Illustrated Swimsuit Cover Star. She must be doing something right. Here are her three key rules to staying young.
Curated by Dan DeFrancesco in New York. Feedback or tips? Email ddefrancesco@insider.com, tweet @dandefrancesco, or connect on LinkedIn. Edited by Jeffrey Cane (tweet
@jeffrey_cane
) in New York and Hallam Bullock (tweet
@hallam_bullock
) in London.
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By: ddefrancesco@businessinsider.com (Dan DeFrancesco)
Title: Elon Musk’s super-app ambitions took an interesting turn with his first acquisition at Twitter
Sourced From: www.businessinsider.com/elon-musk-deal-laskie-twitter-super-app-2023-5
Published Date: Wed, 17 May 2023 11:50:00 +0000
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